According to a statement released by the International Monetary Fund on Monday, the Executive Board of the IMF voted in favor of approving a three-year Extended Credit Facility and Extended Fund Facility for approximately $1.51 billion with Senegal, as well as an arrangement for $324 million under the Resilience and Sustainability Facility.
According to the fund, the EFF/ECF program will help address macroeconomic imbalances, while the RSF arrangement will help with longer-term concerns relating to climate change.
According to the statement released by the IMF, the decision made by the board paves the way for an immediate transfer of about $216 million following the EFF/ECF.
